Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $34.61

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up before the market opened on Tuesday . The stock had previously closed at $34.61, but opened at $35.70. Shinhan Financial Group shares last traded at $35.72, with a volume of 8,918 shares.

Analyst Ratings Changes

Separately, StockNews.com downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

Shinhan Financial Group Price Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $18.91 billion, a PE ratio of 6.12, a P/E/G ratio of 0.62 and a beta of 0.93. The company has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $32.81.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Thursday, May 16th. The bank reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.35. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. The business had revenue of $3.09 billion during the quarter. Sell-side analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.21 earnings per share for the current year.

Institutional Trading of Shinhan Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Shinhan Financial Group in the 4th quarter valued at about $29,000. Allspring Global Investments Holdings LLC raised its stake in Shinhan Financial Group by 27.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock valued at $50,000 after acquiring an additional 349 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in Shinhan Financial Group during the 1st quarter worth approximately $61,000. Janiczek Wealth Management LLC lifted its position in Shinhan Financial Group by 44.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 2,305 shares of the bank’s stock worth $71,000 after acquiring an additional 704 shares during the period. Finally, Lindbrook Capital LLC lifted its position in Shinhan Financial Group by 19.7% during the 4th quarter. Lindbrook Capital LLC now owns 4,657 shares of the bank’s stock worth $143,000 after acquiring an additional 767 shares during the period. 7.76% of the stock is owned by hedge funds and other institutional investors.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.